Kathmandu. The first annual general meeting of Nepal Development Public Limited (NDP) has been held in Kathmandu.

The AGM, chaired by the company’s chairman Chandra Prasad Dhakal, has decided to collaborate with the government and national and international non-government funds through public-private partnership to expand the scope of investment of the company.

In addition, the company has decided to create employment in rural areas by expanding its investment in agriculture, cottage, small and medium enterprises in addition to big urban projects such as hydropower, tourism, information technology, NDP Ventures and NDP Developers.

Presenting the first annual report of the company at the AGM, Mr. Dhakal, President of the company and President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said that the company has made various efforts for investment diversification and risk management by developing various systems to make its investment systematic and safe.

He said that it was necessary for the state to create an environment conducive for investment by ensuring security of entrepreneurs and businesses as the morale of entrepreneurs has plummeted in the current special situation and it may take time to prepare for further investment.

Chairman Dhakal said that this investment company could play a special role in bringing the sluggish economy into rhythm, increasing production and employment, boosting the morale of overall industrialists and business community and taking the country ahead on the journey of economic development and prosperity.

“The country’s economy is going through a special phase now. Economic activity has slowed down due to lack of demand in the market. The courage and morale of the businessmen to invest more and new is deteriorating. In such a situation, we can invest in big and strategic industries through this investment company to bring the country÷economy into rhythm, advance economic activities and create employment,” said Dhakal.

Chairman Dhakal said that Nepalis living in and outside the country have shown huge interest in this investment company.

“I was in the United States recently to attend an IMF event. During the meeting with me, the Nepalis living there inquired a lot about the current situation of Nepal, the investment possibilities and this investment company. Many Nepalese have been interested in this company while reaching different countries in the past. We have to look for good projects for investment. Many domestic investors and NRNs are ready to invest in it,” he said.

He also informed that the company will provide consultancy services to entrepreneurs and investors at home and abroad for the establishment, operation and expansion of industries and businesses in Nepal, revival of sick and problematic industries and projects for attracting foreign direct investment.

Chairman Dhakal also urged all industrialists, businessmen and non-resident Nepalis to participate in the economic prosperity and development of the country by investing through the company.

The company was established a year ago with a total capital of Rs 10 billion. Currently, the company has 246 shareholders from 46 districts.

The company has been established with the investment of small to big entrepreneurs and Non÷Resident Nepalese from all 77 districts of the country to increase production and create employment by pooling the dispersed capital.

A meeting of the Executive Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) held at Dhorpatan of Baglung had proposed to establish a national-level investment company comprising industrialists and entrepreneurs from across the country and through this to expand a strong, capable and participatory equity market in the country.